Diversified Trust Co Cuts Stake in Salesforce, Inc. (NYSE:CRM)

Diversified Trust Co trimmed its position in shares of Salesforce, Inc. (NYSE:CRM) by 11.4% during the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 12,193 shares of the CRM provider’s stock after selling 1,576 shares during the quarter. Diversified Trust Co’s holdings in Salesforce were worth $3,337,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Ruedi Wealth Management Inc. raised its holdings in Salesforce by 186.7% in the 1st quarter. Ruedi Wealth Management Inc. now owns 86 shares of the CRM provider’s stock worth $26,000 after acquiring an additional 56 shares during the last quarter. Piscataqua Savings Bank boosted its position in shares of Salesforce by 2,400.0% during the second quarter. Piscataqua Savings Bank now owns 100 shares of the CRM provider’s stock valued at $26,000 after buying an additional 96 shares during the last quarter. Clear Investment Research LLC increased its holdings in Salesforce by 816.7% in the 2nd quarter. Clear Investment Research LLC now owns 110 shares of the CRM provider’s stock worth $28,000 after buying an additional 98 shares in the last quarter. Red Tortoise LLC purchased a new position in Salesforce in the 1st quarter worth about $33,000. Finally, Stephens Consulting LLC lifted its stake in Salesforce by 3,125.0% during the 2nd quarter. Stephens Consulting LLC now owns 129 shares of the CRM provider’s stock valued at $33,000 after acquiring an additional 125 shares during the period. 80.43% of the stock is currently owned by institutional investors.

Insider Activity

In related news, insider Parker Harris sold 4,200 shares of Salesforce stock in a transaction dated Tuesday, July 16th. The shares were sold at an average price of $254.90, for a total transaction of $1,070,580.00. Following the completion of the sale, the insider now owns 116,693 shares in the company, valued at $29,745,045.70. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other Salesforce news, insider Parker Harris sold 4,200 shares of Salesforce stock in a transaction on Tuesday, July 16th. The stock was sold at an average price of $254.90, for a total transaction of $1,070,580.00. Following the completion of the sale, the insider now directly owns 116,693 shares of the company’s stock, valued at $29,745,045.70. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CAO Sundeep G. Reddy sold 413 shares of the stock in a transaction on Tuesday, July 23rd. The stock was sold at an average price of $255.78, for a total value of $105,637.14. Following the transaction, the chief accounting officer now directly owns 6,431 shares in the company, valued at $1,644,921.18. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 76,412 shares of company stock valued at $20,071,723. 3.20% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several research analysts have recently weighed in on the stock. Morgan Stanley boosted their price objective on shares of Salesforce from $320.00 to $330.00 and gave the company an “overweight” rating in a report on Thursday, August 29th. BNP Paribas upgraded shares of Salesforce to a “strong-buy” rating in a research note on Thursday, August 29th. Needham & Company LLC restated a “buy” rating and issued a $345.00 price target on shares of Salesforce in a research note on Friday, September 20th. Northland Capmk upgraded Salesforce from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, October 2nd. Finally, FBN Securities upgraded shares of Salesforce to a “strong-buy” rating in a research report on Thursday, August 29th. Eight analysts have rated the stock with a hold rating, twenty-seven have given a buy rating and four have issued a strong buy rating to the company. According to MarketBeat.com, Salesforce has a consensus rating of “Moderate Buy” and a consensus price target of $310.74.

Salesforce Stock Down 1.1 %

NYSE CRM opened at $284.48 on Tuesday. Salesforce, Inc. has a 52 week low of $193.68 and a 52 week high of $318.71. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.15. The company has a fifty day moving average of $258.53 and a two-hundred day moving average of $264.22. The firm has a market capitalization of $275.66 billion, a price-to-earnings ratio of 51.17, a PEG ratio of 2.39 and a beta of 1.30.

Salesforce (NYSE:CRM) last announced its quarterly earnings data on Wednesday, August 28th. The CRM provider reported $2.56 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.36 by $0.20. The business had revenue of $9.33 billion during the quarter, compared to the consensus estimate of $9.22 billion. Salesforce had a net margin of 15.44% and a return on equity of 12.01%. The firm’s quarterly revenue was up 8.5% compared to the same quarter last year. During the same quarter last year, the firm earned $1.63 earnings per share. On average, analysts predict that Salesforce, Inc. will post 7.54 earnings per share for the current year.

Salesforce Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 8th. Stockholders of record on Wednesday, September 18th will be given a dividend of $0.40 per share. The ex-dividend date of this dividend is Wednesday, September 18th. This represents a $1.60 annualized dividend and a dividend yield of 0.56%. Salesforce’s dividend payout ratio (DPR) is 28.78%.

Salesforce Company Profile

Salesforce, Inc provides Customer Relationship Management (CRM) technology that brings companies and customers together worldwide. The company's service includes sales to store data, monitor leads and progress, forecast opportunities, gain insights through analytics and artificial intelligence, and deliver quotes, contracts, and invoices; and service that enables companies to deliver trusted and highly personalized customer support at scale.